(By Balaseshan) U.S. stock-index futures pointed to a flat open on the Wall Street, after a report showed that U.S. economy grew more slowly than expected and jobless claims data rose higher than estimated.
Mini Dow industrial average futures rose 14.00 points to 12,395.00. The Nasdaq Futures gained 5.50 points to 2,536.25. Standard and Poor's 500 futures edged 4.20 points higher to 1,312.80.
On the US economic front, the ADP National Employment report showed that U.S. private sector added 133,000 jobs in May, up from a revised 113,000 in April, while below expectations for an addition of 154,000 jobs.
The number of Americans who continued to receive jobless benefits rose, higher than expected, a government data showed. Jobless claims rose 10,000 to 383,000 last week from a revised 373,000, while economists projected claims to drop to 370,000. The four-week moving average for claims - a less volatile measure than the weekly figures - increased 3,750 to 374,500 last week, a data from the Labor Department showed.
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U.S. gross domestic product expanded at a 1.9 percent annual rate for the first quarter, lower than the 2.2% gain estimated a month ago, a report from Commerce Department showed. Economists expected growth of 1.9 percent versus 3.0 percent in the fourth quarter.
According to Challenger, Gray & Christmas Inc., the nation's employers announced plans to cut 61,887 workers from their payrolls in May, 67 percent higher than May 2011. The computer sector led the job-cuts with 27,754 planned firing in May, followed by 5,419 in transportation and 4,424 in financial businesses.
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On Wednesday, U.S. stocks tumbled as sharp rise in Spain's borrowing costs and political uncertainty in Greece worsened fears of a deepening eurozone debt crisis. A disappointing report on domestic home sales also contributed to the negative sentiment.
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In corporate news, Joy Global Inc. (NYSE:JOY) fell 3.74 percent in premarket after the maker of mining equipment lowered fiscal 2012 guidance on lower booking, which reflects expected decline in demand for original equipment for the U.S. market.
TiVo Inc. (NASDAQ:TIVO), whose brand is synonymous with digital video recorders, reported a loss for the first quarter due to higher costs and one-time past damages from the DISH Network settlement in the last year. Loss and revenue missed Street's expectations.
F5 Networks Inc. (NASDAQ:FFIV) fell 3.38 percent in premarket after the provider of application delivery networking technology announced the resignation of Mark Anderson, the company's executive vice president of worldwide sales. Dave Feringa, currently senior vice president of Americas Sales, would replace Anderson.
Lions Gate Entertainment Corp. (NYSE:LGF) fell 4.67 percent in premarket after the entertainment company's fourth quarter loss missed market expectations, as theatrical marketing and acquisition-related costs overshadowed strong revenue growth.
Target Corp. (NYSE:TGT) gained 1.14 percent in premarket after the retailer's May comparable-store sales increased 4.4 percent. Net retail sales for the month of May rose 5.0 percent to $5.04 billion.
The European markets traded higher after Germany's unemployment rate dropped and eurozone inflation slowed, with Germany's DAX rising 0.30 percent to trade at 6,299.87. France's CAC40 added 0.33 percent to 3,025.43. Britain's FTSE 100 gained 0.76 percent to 5,337.73.
Asian markets closed lower on sharp rise in Spain's borrowing costs. The Shanghai Composite Index dipped 0.52 percent to end at 2,372.23. Hong Kong's Hang Seng shed 0.32 percent to close at 18,629.52. Japan's Nikkei 225 fell 1.05 percent to close at 8,542.73. India's BSE Sensex finished at 16,218.53, down 0.57 percent.
Ahead of the opening bell, crude oil futures added 0.25 percent to $88.04 per barrel. Gold futures edged 0.10 percent higher to $1,564.90 per ounce.
In the currency market, the euro gained 0.36 percent against the U.S. dollar to 1.2412, and the British pound added 0.21 percent against the greenback to 1.5511. The dollar shed 0.43 percent against the Japanese yen to 78.7400.